Edward Chipman Earle Acquires 5,000 Shares of Orion Group (NYSE:ORN) Stock

Orion Group Holdings, Inc. (NYSE:ORN) EVP Edward Chipman Earle bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $9.81 per share, for a total transaction of $49,050.00. Following the completion of the transaction, the executive vice president directly owned 150,042 shares of the company’s stock, valued at $1,471,912.02. This represents a 3.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Orion Group Trading Up 2.3%

ORN traded up $0.23 during trading hours on Tuesday, reaching $10.22. 661,231 shares of the company’s stock traded hands, compared to its average volume of 431,946. The firm has a 50-day moving average price of $13.94 and a 200 day moving average price of $13.04. Orion Group Holdings, Inc. has a 52-week low of $6.44 and a 52-week high of $17.40. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $414.02 million, a PE ratio of 113.61 and a beta of 1.34.

Orion Group (NYSE:ORN) last released its earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Orion Group had a return on equity of 3.07% and a net margin of 0.40%.The business had revenue of $221.88 million during the quarter, compared to analysts’ expectations of $225.72 million. As a group, sell-side analysts predict that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new position in shares of Orion Group during the second quarter valued at approximately $12,885,000. Invesco Ltd. raised its position in shares of Orion Group by 79.4% in the 3rd quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock worth $10,578,000 after acquiring an additional 562,863 shares in the last quarter. Simcoe Capital LLC purchased a new stake in shares of Orion Group during the 4th quarter worth $4,509,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orion Group during the 4th quarter worth $2,977,000. Finally, JPMorgan Chase & Co. boosted its position in Orion Group by 727.0% during the second quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company’s stock valued at $2,569,000 after purchasing an additional 248,988 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORN has been the subject of several research reports. Weiss Ratings cut shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday. Oppenheimer started coverage on shares of Orion Group in a research report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 target price on the stock. Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Wall Street Zen lowered Orion Group from a “strong-buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.20.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.